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Why Returns Are Retail’s Biggest Untapped Opportunity with Blue Yonder's Tim Robinson | 5IM · Omni Talk Retail

• 0:00
  Foreigning
• 0:10
  us
• 0:10
  now
• 0:10
  for
• 0:10
  five
• 0:10
  insightful
• 0:11
  minutes
• 0:11
  is
• 0:11
  Blue
• 0:11
  Yonder's
• 0:12
  corporate
• 0:12
  vice
• 0:12
  president
• 0:13
  Tim
• 0:13
  Robinson.
• 0:14
  Tim
• 0:14
  is
• 0:15
  here
• 0:15
  to
• 0:15
  take
• 0:16
  us
• 0:16
  through
• 0:16
  Blue
• 0:16
  Yonder's
• 0:17
  most
• 0:17
  recent
• 0:18
  consumer
• 0:18
  returns
• 0:19
  survey.
• 0:20
  Tim,
• 0:20
  first
• 0:20
  question
• 0:21
  may
• 0:21
  be
• 0:21
  obvious,
• 0:21
  but
• 0:22
  I
• 0:22
  want
• 0:22
  to
• 0:22
  get
• 0:22
  your
• 0:22
  take
• 0:22
  on
• 0:22
  it.
• 0:23
  Why
• 0:23
  should
• 0:23
  retailers
• 0:24
  be
• 0:24
  reimagining
• 0:25
  returns?
• 0:27
  Hi,
• 0:27
  Chris
• 0:28
  here.
• 0:28
  Thank
• 0:28
  you.
• 0:28
  So
• 0:29
  I
• 0:29
  mean
• 0:29
  there
• 0:29
  are
• 0:29
  probably
• 0:30
  three
• 0:30
  key
• 0:30
  areas.
• 0:31
  I
• 0:31
  think
• 0:31
  the
• 0:31
  first
• 0:32
  thing
• 0:32
  is
• 0:33
  it's
• 0:34
  easy
• 0:34
  to
• 0:34
  forget
• 0:34
  that
• 0:35
  returns
• 0:35
  are
• 0:35
  inventory.
• 0:37
  Up
• 0:37
  to
• 0:38
  15%
• 0:38
  of
• 0:39
  items
• 0:39
  that
• 0:39
  are
• 0:39
  fulfilled
• 0:41
  across
• 0:41
  the
• 0:41
  US
• 0:42
  come
• 0:42
  back
• 0:42
  as
• 0:43
  returns
• 0:43
  and
• 0:44
  95%
• 0:45
  of
• 0:45
  those
• 0:45
  items
• 0:45
  could
• 0:46
  be
• 0:46
  resold
• 0:46
  or
• 0:46
  full
• 0:47
  price.
• 0:47
  This
• 0:47
  is
• 0:47
  inventory.
• 0:49
  They
• 0:49
  should
• 0:50
  be
• 0:50
  treating
• 0:50
  them
• 0:50
  like
• 0:50
  inventory
• 0:51
  with
• 0:51
  the
• 0:51
  same
• 0:51
  level
• 0:52
  of
• 0:52
  urgency
• 0:52
  and
• 0:52
  priority.
• 0:53
  I
• 0:54
  think
• 0:54
  the
• 0:54
  second
• 0:54
  thing
• 0:55
  is
• 0:56
  the
• 0:56
  customer
• 0:57
  experience
• 0:57
  angle
• 0:58
  now
• 0:58
  that
• 0:58
  E
• 0:59
  commerce,
• 0:59
  online
• 1:00
  shopping
• 1:00
  is
• 1:00
  such
• 1:00
  a
• 1:01
  big
• 1:01
  part
• 1:01
  of
• 1:01
  the
• 1:01
  retail
• 1:02
  experience.
• 1:04
  Looking
• 1:04
  at
• 1:04
  the
• 1:04
  deed,
• 1:05
  understanding
• 1:05
  the
• 1:06
  details
• 1:06
  around
• 1:07
  returns,
• 1:08
  what
• 1:08
  consumers
• 1:09
  want,
• 1:10
  the
• 1:10
  sort
• 1:10
  of
• 1:11
  experiences
• 1:11
  they
• 1:11
  want,
• 1:11
  but
• 1:11
  also
• 1:12
  thinking
• 1:12
  about
• 1:12
  your
• 1:12
  profitability
• 1:13
  and
• 1:14
  sustainability
• 1:15
  is
• 1:15
  very
• 1:15
  important
• 1:15
  in
• 1:15
  that
• 1:15
  regard
• 1:16
  as
• 1:16
  well.
• 1:17
  And
• 1:17
  I
• 1:17
  think
• 1:18
  like
• 1:18
  lots
• 1:19
  of
• 1:19
  facets
• 1:20
  of
• 1:20
  E
• 1:20
  commerce
• 1:21
  as
• 1:21
  it's
• 1:21
  evolved
• 1:21
  over
• 1:22
  the
• 1:22
  years,
• 1:22
  the,
• 1:23
  the
• 1:23
  buynet,
• 1:24
  buy
• 1:24
  it
• 1:24
  now,
• 1:24
  one
• 1:25
  click
• 1:25
  experience
• 1:26
  or
• 1:27
  you
• 1:27
  know,
• 1:28
  new
• 1:28
  payment
• 1:29
  methodologies
• 1:29
  that
• 1:30
  grow
• 1:30
  and
• 1:30
  help
• 1:30
  grow
• 1:31
  E
• 1:31
  commerce.
• 1:32
  I
• 1:32
  think
• 1:32
  returns
• 1:33
  can
• 1:33
  be
• 1:33
  a
• 1:33
  differentiator.
• 1:34
  I
• 1:34
  think,
• 1:35
  you
• 1:35
  know,
• 1:35
  unique
• 1:36
  returns
• 1:36
  experiences,
• 1:37
  the
• 1:37
  technology
• 1:38
  you
• 1:38
  deploy,
• 1:38
  the
• 1:39
  experience
• 1:39
  that
• 1:39
  provides
• 1:40
  consumers
• 1:40
  can
• 1:40
  set
• 1:41
  you
• 1:41
  apart
• 1:41
  from
• 1:41
  the
• 1:42
  rest.
• 1:43
  Well,
• 1:43
  Tim,
• 1:44
  I
• 1:44
  can
• 1:44
  imagine
• 1:45
  a
• 1:45
  few
• 1:45
  reasons,
• 1:46
  having
• 1:46
  been
• 1:46
  a
• 1:46
  retailer
• 1:47
  myself,
• 1:47
  but
• 1:48
  what
• 1:48
  are
• 1:48
  you
• 1:49
  hearing
• 1:49
  from
• 1:49
  retailers
• 1:50
  are
• 1:51
  making
• 1:51
  returns
• 1:52
  so
• 1:52
  complex
• 1:52
  these
• 1:53
  days?
• 1:54
  Yeah,
• 1:54
  I
• 1:54
  mean
• 1:54
  that
• 1:55
  is
• 1:55
  the
• 1:55
  killer
• 1:55
  question
• 1:56
  for
• 1:56
  us.
• 1:57
  It
• 1:58
  ultimately
• 1:58
  comes
• 1:59
  down
• 1:59
  to
• 1:59
  the
• 1:59
  fact
• 2:00
  that
• 2:00
  returns
• 2:01
  are
• 2:01
  by
• 2:01
  their
• 2:01
  nature
• 2:02
  multichannel.
• 2:03
  They
• 2:03
  come
• 2:03
  at
• 2:03
  you
• 2:04
  from
• 2:04
  all
• 2:04
  different
• 2:04
  directions.
• 2:05
  You
• 2:05
  know,
• 2:05
  you
• 2:06
  remember
• 2:06
  when
• 2:06
  you
• 2:06
  were
• 2:06
  in
• 2:06
  retail,
• 2:07
  some,
• 2:07
  some
• 2:08
  of
• 2:08
  those
• 2:08
  returns
• 2:08
  come
• 2:09
  from
• 2:09
  digital
• 2:10
  returns
• 2:11
  platforms
• 2:11
  where
• 2:11
  you
• 2:11
  have
• 2:12
  some
• 2:12
  insight
• 2:12
  and
• 2:12
  information.
• 2:13
  Others,
• 2:14
  a
• 2:15
  customer
• 2:15
  has
• 2:15
  just
• 2:15
  ripped
• 2:16
  a
• 2:16
  label
• 2:16
  off
• 2:16
  of
• 2:17
  a
• 2:17
  parcel
• 2:17
  and
• 2:18
  filled
• 2:18
  out
• 2:18
  a
• 2:18
  form
• 2:19
  and
• 2:19
  sent
• 2:19
  it
• 2:19
  back
• 2:19
  to
• 2:19
  you.
• 2:20
  You
• 2:20
  know,
• 2:20
  some
• 2:20
  returns
• 2:21
  go
• 2:21
  back
• 2:21
  to
• 2:21
  the
• 2:21
  stor
• 2:22
  store.
• 2:23
  Colleagues
• 2:23
  may
• 2:23
  or
• 2:23
  may
• 2:24
  not
• 2:24
  capture
• 2:25
  reasons
• 2:25
  as
• 2:25
  to
• 2:25
  why
• 2:26
  that
• 2:26
  return
• 2:26
  is
• 2:26
  coming
• 2:27
  back.
• 2:27
  It's
• 2:27
  like
• 2:28
  truly,
• 2:28
  truly
• 2:28
  multi
• 2:29
  channel.
• 2:29
  One
• 2:29
  of
• 2:30
  our
• 2:30
  customers
• 2:30
  in
• 2:30
  Europe
• 2:31
  describes
• 2:32
  returns
• 2:32
  as
• 2:32
  their
• 2:33
  worst
• 2:33
  supplier.
• 2:35
  So
• 2:35
  15%
• 2:36
  of
• 2:36
  all
• 2:36
  my
• 2:36
  skus
• 2:36
  come
• 2:37
  from
• 2:37
  this
• 2:37
  supplier.
• 2:39
  I
• 2:40
  don't
• 2:40
  have
• 2:40
  any
• 2:40
  visibility
• 2:41
  about
• 2:41
  when
• 2:41
  they're
• 2:41
  coming.
• 2:42
  I
• 2:42
  don't
• 2:42
  know
• 2:42
  what's
• 2:42
  coming
• 2:42
  and
• 2:43
  I
• 2:43
  don't
• 2:43
  know
• 2:43
  what
• 2:43
  condition
• 2:43
  it's
• 2:44
  in.
• 2:44
  And
• 2:44
  I
• 2:45
  think
• 2:45
  that
• 2:45
  kind
• 2:45
  of,
• 2:45
  that
• 2:46
  phrase
• 2:46
  is
• 2:46
  really
• 2:47
  kind
• 2:47
  of
• 2:47
  describes
• 2:48
  why
• 2:48
  it's
• 2:48
  so
• 2:48
  complex.
• 2:50
  So
• 2:51
  Tim,
• 2:51
  I'm
• 2:51
  curious,
• 2:52
  from
• 2:52
  the
• 2:52
  chair
• 2:52
  top
• 2:53
  which
• 2:53
  you
• 2:53
  sit,
• 2:54
  how
• 2:54
  are
• 2:54
  you
• 2:54
  Seeing
• 2:55
  the
• 2:55
  best
• 2:55
  retailers
• 2:55
  address
• 2:56
  returns
• 2:57
  and
• 2:57
  how
• 2:57
  does
• 2:57
  that
• 2:58
  ultimately
• 2:58
  benefit
• 2:58
  their
• 2:59
  end
• 2:59
  consumer
• 2:59
  or
• 3:00
  their
• 3:00
  end
• 3:00
  customer?
• 3:02
  So
• 3:02
  I
• 3:02
  mean,
• 3:02
  I
• 3:02
  would
• 3:03
  say
• 3:03
  over
• 3:03
  the
• 3:03
  last
• 3:04
  10
• 3:04
  years,
• 3:05
  lots
• 3:06
  of
• 3:06
  time,
• 3:06
  money
• 3:06
  and
• 3:07
  effort
• 3:07
  has
• 3:07
  gone
• 3:07
  into
• 3:08
  digitizing
• 3:09
  like
• 3:09
  the
• 3:09
  consumer
• 3:10
  front
• 3:10
  end.
• 3:11
  So
• 3:11
  there's
• 3:11
  been
• 3:11
  some
• 3:12
  great
• 3:12
  businesses
• 3:13
  that
• 3:13
  born
• 3:13
  out
• 3:13
  of
• 3:13
  this
• 3:14
  desire
• 3:14
  to
• 3:15
  digitize
• 3:15
  the
• 3:15
  consumer
• 3:16
  experience.
• 3:18
  And
• 3:19
  that
• 3:19
  feels
• 3:19
  like
• 3:20
  in
• 3:20
  many,
• 3:20
  many
• 3:20
  cases,
• 3:21
  particularly
• 3:21
  in
• 3:21
  more
• 3:21
  mature
• 3:22
  E
• 3:22
  commerce
• 3:22
  markets,
• 3:24
  that
• 3:25
  the
• 3:25
  job
• 3:25
  is
• 3:25
  done
• 3:26
  at
• 3:26
  that
• 3:26
  end
• 3:26
  of
• 3:26
  the
• 3:27
  experience.
• 3:28
  Now
• 3:29
  it's
• 3:29
  all
• 3:29
  about
• 3:30
  what
• 3:30
  to
• 3:30
  do
• 3:30
  with
• 3:30
  that
• 3:30
  information.
• 3:31
  You're
• 3:31
  now
• 3:32
  getting
• 3:32
  more
• 3:32
  and
• 3:33
  more
• 3:33
  information
• 3:33
  about
• 3:33
  returns
• 3:34
  than
• 3:34
  you
• 3:34
  ever
• 3:34
  were
• 3:35
  before.
• 3:35
  Who's
• 3:36
  returning,
• 3:36
  where
• 3:37
  are
• 3:37
  they
• 3:37
  returning,
• 3:38
  why
• 3:38
  are
• 3:38
  they
• 3:38
  returning,
• 3:39
  what
• 3:39
  are
• 3:39
  they
• 3:39
  returning?
• 3:41
  The
• 3:41
  best
• 3:42
  retailers
• 3:43
  in
• 3:43
  this
• 3:43
  space
• 3:43
  take
• 3:44
  that
• 3:44
  information
• 3:45
  and
• 3:46
  tailor
• 3:46
  both
• 3:47
  the
• 3:47
  choices
• 3:48
  and
• 3:48
  the
• 3:48
  options
• 3:48
  they
• 3:49
  give
• 3:49
  consumers.
• 3:50
  Do
• 3:50
  you
• 3:50
  get
• 3:50
  a
• 3:50
  refund?
• 3:51
  Do
• 3:51
  you
• 3:51
  get
• 3:51
  a
• 3:51
  full
• 3:51
  refund,
• 3:52
  partial
• 3:53
  refund?
• 3:54
  Where
• 3:55
  can
• 3:55
  you
• 3:55
  take
• 3:55
  it
• 3:56
  in
• 3:56
  order
• 3:56
  to
• 3:56
  drop
• 3:57
  it
• 3:57
  off?
• 3:58
  And
• 3:58
  they're
• 3:58
  also
• 3:58
  using
• 3:59
  that
• 3:59
  data
• 3:59
  to
• 3:59
  make
• 3:59
  the
• 4:00
  best
• 4:00
  supply
• 4:00
  chain
• 4:00
  decisions.
• 4:01
  How
• 4:02
  quickly
• 4:02
  can
• 4:02
  I
• 4:02
  get
• 4:03
  this
• 4:03
  back
• 4:03
  into
• 4:03
  inventory
• 4:04
  and
• 4:04
  sell
• 4:04
  it
• 4:04
  for
• 4:05
  full
• 4:05
  price?
• 4:06
  How
• 4:06
  can
• 4:06
  I
• 4:06
  avoid
• 4:07
  this
• 4:07
  item
• 4:08
  going
• 4:09
  to
• 4:09
  landfill
• 4:09
  and
• 4:10
  ultimately
• 4:10
  having
• 4:10
  the
• 4:10
  value
• 4:11
  ripped
• 4:11
  out
• 4:11
  of
• 4:11
  it
• 4:12
  because
• 4:12
  the
• 4:13
  system
• 4:13
  required
• 4:13
  me
• 4:14
  to.
• 4:14
  So
• 4:14
  I
• 4:14
  think
• 4:14
  it's
• 4:15
  going
• 4:15
  to
• 4:15
  be
• 4:15
  about,
• 4:16
  is
• 4:16
  now
• 4:16
  about
• 4:16
  differentiation,
• 4:17
  the
• 4:17
  use
• 4:18
  of
• 4:18
  data
• 4:18
  and
• 4:18
  tailoring
• 4:19
  both
• 4:20
  under
• 4:20
  the
• 4:20
  hood
• 4:21
  logistics
• 4:21
  solutions
• 4:21
  and
• 4:22
  supply
• 4:22
  chain
• 4:22
  solutions
• 4:23
  to
• 4:23
  suit,
• 4:23
  but
• 4:23
  also
• 4:24
  those
• 4:24
  downstream
• 4:24
  customer
• 4:25
  experiences.
• 4:26
  Well,
• 4:27
  Tim,
• 4:27
  you
• 4:27
  brought
• 4:27
  something
• 4:28
  up
• 4:28
  just
• 4:29
  now
• 4:29
  that
• 4:29
  I
• 4:29
  think
• 4:29
  is
• 4:30
  really
• 4:30
  important
• 4:30
  to
• 4:30
  highlight.
• 4:31
  In
• 4:31
  the
• 4:31
  Blue
• 4:31
  Yonder
• 4:32
  survey
• 4:33
  that
• 4:33
  you
• 4:33
  did,
• 4:33
  55%
• 4:34
  of
• 4:34
  consumers
• 4:35
  that
• 4:35
  were
• 4:35
  polled
• 4:36
  said
• 4:36
  they
• 4:36
  were
• 4:36
  somewhat
• 4:37
  concerned
• 4:37
  about
• 4:37
  the
• 4:37
  environmental
• 4:38
  impact
• 4:38
  when
• 4:39
  doing
• 4:39
  a
• 4:39
  return.
• 4:40
  And
• 4:40
  only
• 4:41
  27%
• 4:42
  though,
• 4:42
  would
• 4:43
  continue
• 4:43
  a
• 4:43
  returns
• 4:44
  process
• 4:44
  if
• 4:44
  they
• 4:45
  knew
• 4:45
  that
• 4:45
  their
• 4:45
  item
• 4:45
  would
• 4:46
  go
• 4:46
  to
• 4:46
  a
• 4:46
  landfill.
• 4:47
  How
• 4:47
  do
• 4:47
  you
• 4:47
  expect
• 4:48
  circularity
• 4:49
  and
• 4:49
  recommerce
• 4:50
  to
• 4:50
  kind
• 4:50
  of
• 4:50
  affect
• 4:51
  how
• 4:51
  we
• 4:51
  as
• 4:51
  consumers
• 4:52
  look
• 4:52
  at
• 4:52
  returns?
• 4:54
  I
• 4:55
  mean,
• 4:55
  I
• 4:55
  hope
• 4:56
  you
• 4:56
  know
• 4:56
  all
• 4:56
  this,
• 4:56
  all
• 4:57
  the
• 4:57
  signs,
• 4:57
  you
• 4:57
  know,
• 4:57
  the
• 4:58
  macro
• 4:58
  signs
• 4:59
  are
• 5:00
  that
• 5:01
  this
• 5:01
  whole
• 5:01
  return
• 5:02
  space
• 5:03
  will
• 5:03
  ultimately
• 5:04
  evolve
• 5:04
  into
• 5:05
  a
• 5:05
  sales
• 5:06
  channel.
• 5:06
  Now
• 5:07
  that
• 5:07
  is
• 5:07
  the
• 5:07
  signs
• 5:08
  we're
• 5:08
  seeing.
• 5:08
  You
• 5:08
  know,
• 5:08
  the
• 5:08
  speed
• 5:09
  at
• 5:09
  which
• 5:09
  consumers
• 5:10
  are
• 5:10
  adopting
• 5:11
  C2C
• 5:11
  pre
• 5:12
  loved
• 5:12
  recommerce
• 5:14
  experiences
• 5:14
  in
• 5:15
  different
• 5:15
  parts
• 5:15
  of
• 5:15
  the
• 5:15
  world
• 5:16
  is
• 5:16
  really
• 5:16
  encouraging
• 5:17
  in
• 5:17
  that
• 5:17
  regard.
• 5:17
  You
• 5:18
  know,
• 5:18
  it
• 5:18
  kind
• 5:18
  of
• 5:18
  highlights
• 5:19
  that
• 5:19
  there
• 5:20
  is
• 5:20
  no
• 5:21
  kind
• 5:22
  of
• 5:22
  old
• 5:22
  world,
• 5:23
  old
• 5:23
  school,
• 5:24
  stuffy
• 5:25
  stuffiness
• 5:26
  around
• 5:27
  buying
• 5:27
  something
• 5:27
  that
• 5:28
  was
• 5:28
  ultimately,
• 5:29
  ultimately
• 5:29
  pre
• 5:29
  loved.
• 5:31
  I
• 5:32
  think
• 5:32
  one
• 5:33
  of
• 5:33
  the
• 5:33
  key
• 5:34
  things
• 5:34
  that
• 5:35
  the
• 5:35
  industry
• 5:35
  is
• 5:36
  going
• 5:36
  to
• 5:36
  need
• 5:36
  to
• 5:36
  provide
• 5:36
  consumers
• 5:37
  with
• 5:37
  in
• 5:38
  the
• 5:38
  not
• 5:38
  too
• 5:38
  distant
• 5:39
  future
• 5:39
  is
• 5:39
  absolute
• 5:40
  visibility
• 5:40
  of
• 5:40
  where
• 5:41
  your
• 5:41
  return
• 5:41
  is
• 5:41
  going.
• 5:42
  I
• 5:42
  think
• 5:42
  the
• 5:43
  idea
• 5:44
  that
• 5:44
  these
• 5:44
  items
• 5:45
  go
• 5:46
  back
• 5:46
  into
• 5:46
  a
• 5:46
  black
• 5:47
  hole
• 5:47
  and
• 5:49
  you
• 5:49
  don't
• 5:49
  see
• 5:49
  it
• 5:50
  is
• 5:51
  something
• 5:51
  which
• 5:51
  society
• 5:52
  is
• 5:52
  going
• 5:52
  to
• 5:52
  rally
• 5:53
  against
• 5:53
  as
• 5:53
  time
• 5:54
  goes
• 5:54
  on.
• 5:54
  But
• 5:54
  it's
• 5:55
  like
• 5:55
  Chris's
• 5:55
  question
• 5:56
  earlier
• 5:56
  on
• 5:56
  about
• 5:56
  differentiation.
• 5:57
  I
• 5:57
  think
• 5:57
  the
• 5:58
  brand
• 5:58
  that
• 5:59
  gets
• 5:59
  there
• 5:59
  quickest
• 6:00
  provides
• 6:00
  visibility
• 6:01
  and
• 6:01
  transparency
• 6:02
  about
• 6:02
  the
• 6:02
  second
• 6:03
  life
• 6:03
  of
• 6:03
  that
• 6:03
  item.
• 6:04
  I
• 6:04
  think
• 6:05
  could
• 6:05
  differentiate
• 6:06
  and
• 6:06
  could
• 6:06
  win.
• 6:07
  They
• 6:07
  could
• 6:07
  get
• 6:07
  ahead
• 6:08
  of
• 6:08
  the
• 6:08
  game
• 6:08
  really,
• 6:08
  really
• 6:09
  quickly.
• 6:10
  That's
• 6:10
  a
• 6:10
  really,
• 6:11
  really
• 6:11
  interesting
• 6:12
  point
• 6:12
  that
• 6:12
  I've
• 6:12
  never
• 6:12
  thought
• 6:12
  about
• 6:13
  giving
• 6:13
  visibility
• 6:13
  to
• 6:14
  what
• 6:14
  happens
• 6:14
  when
• 6:15
  you
• 6:15
  return
• 6:15
  an
• 6:15
  item
• 6:15
  and
• 6:16
  that
• 6:16
  being
• 6:16
  a
• 6:16
  point
• 6:16
  of
• 6:16
  differentiation
• 6:17
  for
• 6:17
  a
• 6:17
  retailer.
• 6:18
  So
• 6:18
  Tim,
• 6:18
  we
• 6:19
  always
• 6:19
  love
• 6:19
  to
• 6:19
  end
• 6:19
  with
• 6:20
  predictions
• 6:20
  and,
• 6:21
  and
• 6:21
  you
• 6:21
  just
• 6:21
  kind
• 6:21
  of
• 6:21
  made
• 6:22
  one
• 6:22
  there.
• 6:22
  But
• 6:22
  I'm
• 6:22
  curious,
• 6:23
  do
• 6:23
  you
• 6:23
  have
• 6:23
  any
• 6:24
  other
• 6:24
  predictions
• 6:24
  in
• 6:25
  terms
• 6:25
  of
• 6:25
  how
• 6:25
  you
• 6:26
  seeing
• 6:26
  how
• 6:26
  you
• 6:27
  see
• 6:27
  RE
• 6:27
  returns
• 6:28
  evolving
• 6:28
  over
• 6:28
  the
• 6:29
  next
• 6:29
  say
• 6:29
  five
• 6:29
  to
• 6:29
  ten
• 6:30
  years?
• 6:31
  Yeah,
• 6:31
  I've
• 6:32
  got
• 6:32
  one
• 6:33
  which
• 6:34
  I've
• 6:34
  clung
• 6:34
  on
• 6:34
  to
• 6:35
  for
• 6:35
  a
• 6:35
  while
• 6:35
  which
• 6:35
  is
• 6:35
  starting
• 6:36
  to
• 6:36
  starting
• 6:37
  to
• 6:37
  play
• 6:37
  out,
• 6:37
  which
• 6:38
  is
• 6:39
  generally
• 6:40
  in
• 6:40
  most
• 6:41
  cases,
• 6:42
  retailers
• 6:42
  apply
• 6:43
  a
• 6:43
  one
• 6:43
  size
• 6:44
  fits
• 6:44
  all
• 6:44
  approach
• 6:46
  to
• 6:46
  returns
• 6:47
  policies.
• 6:48
  You
• 6:48
  know,
• 6:49
  it's
• 6:49
  30
• 6:49
  days
• 6:50
  return
• 6:50
  policy
• 6:51
  for
• 6:51
  everything.
• 6:53
  It's
• 6:53
  30
• 6:53
  days
• 6:54
  returns
• 6:54
  policy
• 6:54
  for
• 6:55
  every
• 6:55
  consumer,
• 6:55
  regardless
• 6:56
  of
• 6:56
  whether
• 6:56
  you're
• 6:57
  a
• 6:57
  consistent
• 6:58
  spender,
• 6:59
  a
• 6:59
  loyal
• 6:59
  customer.
• 7:00
  It's
• 7:00
  just,
• 7:00
  it's
• 7:00
  a
• 7:01
  blanket
• 7:01
  policy
• 7:02
  and
• 7:02
  it's
• 7:03
  30
• 7:03
  days
• 7:03
  and
• 7:03
  full
• 7:04
  refund
• 7:04
  whether
• 7:04
  it's
• 7:05
  a
• 7:05
  $10
• 7:05
  t
• 7:06
  shirt
• 7:06
  or
• 7:06
  a
• 7:07
  $2,000
• 7:08
  handbag.
• 7:09
  The
• 7:09
  thing
• 7:10
  that
• 7:10
  I
• 7:10
  think
• 7:10
  the
• 7:10
  biggest
• 7:11
  move
• 7:11
  is
• 7:11
  going
• 7:11
  to
• 7:11
  be
• 7:12
  around
• 7:12
  using
• 7:12
  data.
• 7:13
  You
• 7:14
  understand
• 7:14
  every
• 7:15
  sku,
• 7:15
  you
• 7:16
  understand
• 7:16
  its
• 7:16
  price,
• 7:17
  you
• 7:17
  understand
• 7:17
  its
• 7:17
  value,
• 7:18
  you
• 7:18
  understand
• 7:18
  every
• 7:18
  customer,
• 7:19
  you
• 7:20
  understand
• 7:20
  their
• 7:20
  value,
• 7:20
  you
• 7:21
  understand
• 7:21
  their
• 7:21
  behavior.
• 7:22
  The
• 7:22
  idea
• 7:23
  that
• 7:23
  we
• 7:23
  can't
• 7:24
  use
• 7:24
  that
• 7:24
  data
• 7:24
  to
• 7:25
  offer
• 7:25
  tailored
• 7:26
  returns,
• 7:27
  policies
• 7:27
  and
• 7:27
  rules
• 7:28
  and
• 7:28
  experiences
• 7:29
  to
• 7:29
  consumers
• 7:30
  is
• 7:30
  nuts,
• 7:30
  really.
• 7:30
  And
• 7:31
  that's
• 7:31
  where
• 7:31
  I
• 7:31
  think
• 7:31
  it
• 7:31
  will
• 7:32
  go.
• 7:32
  I
• 7:32
  think
• 7:32
  we're
• 7:32
  having
• 7:33
  some
• 7:33
  fascinating
• 7:34
  conversations
• 7:35
  with
• 7:35
  retailers,
• 7:36
  particularly
• 7:37
  in
• 7:37
  the
• 7:37
  US
• 7:38
  at
• 7:38
  the
• 7:38
  minute,
• 7:39
  about
• 7:40
  using
• 7:41
  that
• 7:41
  data
• 7:41
  to
• 7:42
  tailor
• 7:42
  the
• 7:43
  rules,
• 7:43
  the
• 7:43
  returns
• 7:44
  rules,
• 7:44
  the
• 7:45
  policies
• 7:45
  for
• 7:45
  you,
• 7:46
  the
• 7:46
  consumer,
• 7:46
  based
• 7:46
  on
• 7:46
  what
• 7:47
  you're
• 7:47
  buying.
• 7:47
  Wow,
• 7:48
  Great
• 7:48
  stuff,
• 7:48
  Tim.
• 7:49
  Thanks
• 7:49
  for
• 7:49
  joining
• 7:49
  us.
• 7:50
  Tim.